Comprehensive approach adopts Paris Agreement
climate targets, clearly defined interim goals and commitment to
the Science Based Targets Initiative
Agilent Technologies, Inc. (NYSE: A) today announced its
commitment to achieve net-zero greenhouse gas emissions no later
than 2050. The commitment adds to the global effort by governments,
corporations, and other institutions to limit warming of the
climate to 1.5°C above pre-industrial levels, a goal of the 2015
Paris Agreement on climate change.
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To ensure the company achieves its net-zero goals, Agilent has
also committed to interim greenhouse gas reduction targets. By
2030, Agilent will reduce absolute scope 1 and 2 emissions by 50%,
and scope 3 emissions by at least 30% (with a stretch goal of 40%)
from a base year of 2019. Scope 1 covers direct emissions from
owned or controlled sources, while Scope 2 covers indirect
emissions from the generation of purchased electricity, steam,
heating and cooling consumed by the reporting company. Scope 3
includes all other indirect emissions that occur in a company's
value chain. To achieve these targets, Agilent will continue to
invest in renewable energy and focus on three areas where its
carbon footprint is greatest: purchased goods and services, sold
products, and transportation and distribution.
“Agilent has been committed to sustainability and environmental
protection since our founding,” said President and CEO Mike
McMullen. “This commitment to net zero is consistent with our
history and our mission of delivering insights that advance the
quality of life. Agilent, with our culture of innovation, is in a
strong position to contribute important solutions to reducing
greenhouse gas emissions.
“Our commitment to net zero isn’t just the ‘right thing’ to do.
It’s aligned with our core business objectives as well.”
In addition to setting interim targets for achieving net-zero
greenhouse gas emissions, Agilent is committing to the Science
Based Targets Initiative’s Business Ambition for 1.5°C. This
additional step will ensure that the company’s goals are aligned
with scientific consensus on progress needed to meet the Paris
Agreement and in support of the UN’s Race to Zero Campaign.
To provide investors with meaningful sustainability information,
Agilent is adopting the Task Force on Climate-related Financial
Disclosures (TCFD) recommendations, which complement the
Sustainability Accounting Standards Board (SASB) guidelines Agilent
introduced in 2020.
Since Agilent’s creation in 2000, the company has reported on
its progress in reducing energy, waste, water, and CO₂ emissions
every year. Since 2014, Agilent has reduced its scope 1 and 2 CO₂
emissions by 22%, even as the company has continued to grow.
“Our approach is about transparency, innovation, meeting our
targets and focusing on continuous improvement to reduce our carbon
footprint,” said Neil Rees, vice president, Workplace Services and
head of Agilent’s ESG programs. “We will report on specific
strategies and targets, particularly for engaging our suppliers and
partners to reduce emissions for what we buy, how we transport
materials, and how we design our products. These goals are a
starting point. As we learn more and technologies evolve, we intend
to enhance and expand our commitment.”
Environmentally conscious product design is a central feature of
Agilent’s business. Agilent has engineered its instruments to
improve sustainability in a holistic way — from product design and
manufacturing to usage and disposal. Agilent was one of the first
companies in its class to be independently audited for the
environmental impact of some of its largest product lines,
including liquid and gas chromatography products and mass
spectrometers.
Several Agilent products have already received the My Green Lab
Accountability, Consistency, and Transparency (ACT) label, which
provides customers important information on the environmental
footprint of products. For seven consecutive years, Agilent has
been named one of the Global 100 Most Sustainable Corporations in
the World and has ranked in the top three of Barron’s 100 Most
Sustainable Companies for three consecutive years.
“We view our commitment to net zero as an important and serious
initiative that will influence all aspects of our business,” said
McMullen. “We believe our approach that includes interim targets,
planned third-party reviews, and a robust set of processes to
ensure we achieve net zero by 2050 is substantive, thorough and
methodically designed to achieve our goals.”
To learn more about Agilent’s sustainability work, please see
Agilent’s 2020 Corporate Social Responsibility report. In addition,
a fact sheet with additional details on Agilent’s net-zero
commitment is available on Agilent’s website.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in life
sciences, diagnostics and applied chemical markets. Now in its 20th
year as an independent company delivering insight and innovation
toward improving the quality of life, Agilent instruments,
software, services, solutions, and people provide trusted answers
to customers' most challenging questions. The company generated
revenue of $5.34 billion in fiscal year 2020 and employs 16,400
people worldwide. Information about Agilent is available at
www.agilent.com. To receive the latest Agilent news, please
subscribe to the Agilent Newsroom. Follow Agilent on LinkedIn,
Twitter, and Facebook.
Forward-Looking Statements
This news release contains forward-looking statements as defined
in the Securities Exchange Act of 1934 and is subject to the safe
harbors created therein. The forward-looking statements contained
herein include, but are not limited to, net zero commitments,
emissions targets and initiatives, and reporting of progress on
these targets and initiatives. These forward-looking statements
involve risks and uncertainties that could cause Agilent’s results
and achievements to differ materially from management’s current
expectations. Such risks and uncertainties include, but are not
limited to, unforeseen changes in the demand for current and new
products, technologies, and services; customer purchasing decisions
and timing; changes in developing standards and certifications; and
the cost and availability of renewable energy and carbon removal
and offset projects. In addition, other risks that Agilent faces in
running its operations include the ability to execute successfully
through business cycles; the ability to meet and achieve the
benefits of its cost-reduction goals and otherwise successfully
adapt its cost structures to continuing changes in business
conditions; ongoing competitive, pricing and gross-margin
pressures; the impact of geopolitical uncertainties and global
economic conditions on its operations, its markets and its ability
to conduct business; the ability of its supply chain to adapt to
changes in demand; the ability to successfully introduce new
products at the right time, price and mix; the adverse impacts of
and risks posed by the COVID-19 pandemic and other risks detailed
in Agilent’s filings with the Securities and Exchange Commission,
including its quarterly report on Form 10-Q for the quarter ended
July 31, 2021. Forward-looking statements are based on the beliefs
and assumptions of Agilent’s management and on currently available
information. Agilent undertakes no responsibility to publicly
update or revise any forward-looking statement.
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Media Contact: Sarah Litton +1 669-255-7696
Sarah.litton@agilent.com
Investor Contact: Parmeet Ahuja +1 408-345-8948
parmeet_ahuja@agilent.com
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